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Winter gas prices at the Henry Hub rebounded over the past week, despite volatility in cash trading, as forwards markets continue to anticipate tighter fundamentals by late fourth quarter. On Oct. 8, calendar-month prices for winter’s peak-demand months of December, January and February settled at $3.15, $3.30 and $3.26/MMBtu, respectively – up about 15 cents over the past five trading sessions, S&P Global Platts’ most recently published M2MS data shows. The steady rebound in winter forwards comes despite recent volatility in the cash market. In October, Henry Hub spot gas ...

Global stocks hit five-week highs on Monday led by China’s post-holiday surge as investors bet on a steady recovery for the world’s no. 2 economy, while hopes for stimulus offset worries about rising COVID-19 cases in Europe and the United States. European countries were considering adding fresh travel curbs due to rising coronavirus, a contrast to Asia-Pacific countries including Singapore, Australia and Japan, where a gradual easing of some international travel restrictions is under way. Still, U.S. and European markets were trading higher as investors hoped for coronavirus aid in ...

As world leaders determine a path forward for the global economy, we must ensure women and women-led small businesses are not left behind. Investing in women-led small and micro businesses (SMBs) pays dividends in communities around the globe because women use their resources to reinvest in the health, education and well-being of their families and neighbors. To fully support women SMBs and build a more resilient and inclusive global economy, we need to consider the role of three things: capital, digital payments and innovative public-private partnerships. 1. Access to capital ...

Chinese shipments of virus-related goods to the U.S. have helped the country offset sharp drops in its top export categories due to Washington’s tariffs and the global economic downturn. The trade pact the U.S. and China signed in January left in place U.S. tariffs on about $370 billion in Chinese goods, roughly three-quarters of the country’s exports to the U.S. Nonetheless, China’s exports to the U.S. have increased in recent months, a resilience that has surprised economists. U.S. Census data released Tuesday showed that of the top 10 categories of ...

What is the WTO? The World Trade Organisation (WTO) is an international organisation with a primary goal of promoting trade between countries, as well as intermediating trade dispute between its members. Contrary to international organisations such as the World Bank and the International Monetary Fund (IMF), the ruling is not delegated to a board, but it is reached by consensus among its 164 country members. Currently the institution is in the process of electing a new WTO chief, after its previous Director-General, Roberto Azevêdo, left in August, with former UK ...

After three consecutive weekly increases, the SSY Atlantic Capesize Index fell by 1,111 points to 9,728, slightly below the year-ago level.

The SSY Pacific Capesize Index slipped 360 points lower week-on-week to 6,458.

The fourth quarter has traditionally been referred to as the strongest quarter for freight markets, with factors such as winter heating needs in the northern hemisphere and agricultural exports following harvests in key regions, coupled with bad weather and ice tying tonnage up. However, Q4 2020 is looking less positive for shipowners, as discussed in S&P Global Platts’ shipping special report, Changing Tack. In this extract from the report, Charlotte Bucchioni looks at what’s in store for tanker markets in the coming months. Bearish tanker markets are likely to roll ...

China’s fourth quarter crude oil imports remain a conundrum. In theory, China’s refineries have ample import quota to utilize, should they need to increase imports. However, this development is far from certain at this point in time. In its latest weekly report, shipbroker Gibson said that “throughout the pandemic China has been a key focal point. Whilst it was the first country to go into full lockdown, and the first to see a significant collapse in oil demand, it has also been the country that so far, appears to have ...

Capesize The Capesize market reached new highs for the year this week, topping out at $34,896 on the 5TC. The quick ascension to these lofty heights has been met with an equivalent descent since Wednesday as the market shed value down to $29,479 by weeks end. Fixture activity has been sparse on the descent as charterers backed away and owners looked not to encourage further drops. The usual constant Pacific flow has ticked over, providing some firm insight into the market with the West Australia to China C5 route down ...

“ This project invited players from the entire value chain to examine relevant safety aspects of marine batteries,” says Henrik Helgesen, Project Manager of the JDP and Senior Consultant at DNV GL. “It was the ideal setting to develop common guidelines and build trust in the community, and to promote the adoption of batteries on vessels.” Concluded in late 2019, the project involved the Norwegian, Danish and US maritime authorities, battery manufacturers, system integrators, suppliers of fire extinguishing systems, shipyards and shipowners. Establishing a fact basis for fires in battery ...

VLCC Another week of mostly static rates. There were no changes in rates or sentiment in the Middle East with 280,000mt to USG via the Cape/Cape routing remaining assessed at a shade above WS17 and 270,000mt to China hovering around WS26.5. In the Atlantic, rates for 260,000mt West Africa to China are unchanged at WS30/31. Voyages of 270,000mt USG to China are valued at $4.8m, up about $200k from a week ago. Suezmax Rates for 135,000mt Black Sea/Med are again pegged at WS45. In the 130,000mt Nigeria/UK Continent market, charterers ...

South Korean shipbuilders grappling with dwindling orders may see a flurry of new ship orders from shipowners later this year thanks to the strengthening Korean currency against the U.S. dollar that could hasten their ship purchase before Korean won-based vessel prices rise further. According to multiple sources from the shipbuilding industry on Thursday, Korean shipbuilders are likely to benefit from the recent favorable foreign exchange rate trend with the Korean won value strengthening against the U.S. dollar. In general, Korean shipbuilders and their foreign clients negotiate vessel contracts based on ...

Momentum to decarbonize ocean shipping emissions is building. Consequences for future newbuilding orders and freight rates could be game-changing. First came the landmark 2018 decision by the International Maritime Organization (IMO) to halve greenhouse-gas emissions by 2050. Then came the Poseidon Principles from shipping banks in 2019, with lenders vowing to publicly disclose portfolio carbon emissions. Now, some of the world’s largest bulk cargo shippers have launched Sea Cargo Charter (SCC), which will publish emissions data on chartered ships. “A global mutual understanding that reporting emissions is a must — ...

German container shipping firm Hapag-Lloyd is benefitting from a rebound in transport demand but its chief executive warned about the longer-term impact on economic activity from the coronavirus. “We see a recovery, which started probably some time in the course of third quarter, and we would expect that to continue going into 2021,” chief executive Rolf Habben Jansen said in an embargoed briefing session with journalists held on Thursday. “But there will be a clear long-term effect on the global economy from COVID-19, which will have an impact on the ...